This week we have seen the price of the fall of President Jacob Zuma, the cleaning of the State Owned Enterprises has hopefully started. That can be said because of the actions of the Gupta Family owned corporations as so many of them has suddenly applied for “Business Rescue”, you can wonder what that means, therefore, I went to law-firm who can explain what the Business Rescue means.
Werkmans Attorneys said this: “The aim of business rescue is to restructure the affairs of a company in such a way that either maximises the likelihood of the company continuing in existence on a solvent basis or results in a better return for the creditors of the company than would ordinarily result from the liquidation of the company (section 128(1)(b)(iii))”. So the initial idea behind it is to make adjustments to either secure the companies or secure the creditors, when coming from Gupta businesses meaning the changes of government contracts and litigation’s following the change of President.
Sudden Optimum Coal Terminal Limited, Optimum Coal Mine Limited, Tegeta Exploration and Resource Limited, VR Laser Service Limited, Koornfontein Mines Limited, Confident Concept Limited, Shiva Uranium Limited and Islandsite Investment One Hundred Eighty Limited. We should anticipate in the coming days and weeks, that Oakbay Investment and Oakbay Resources will run insolvent too. As these companies has dried the funds of Eskom and other state owned businesses with shady deals made under the Zuma administration.
We can just imagine the state suffering from this, as the Business Rescue tools buys the companies and investors time, while they have already moved away the funds and needs new liquidation to save it. Smart move by the foreign investors, who used their relationship with Zuma to bleed the nations out of money. They started the companies in the years before Zuma took power in 2006 and 2007. The Shiva Uranium is the oldest company, but the others are very new and made for the age of Zuma.
This will hurt many of the current leaders within African National Congress (ANC) who has also been regarded and parts of the deals, this being Molefe and Gigaba. Des Royeen should also struggling at night and wonder why he was part of it. That ANN7 and Transnet should also worry, all things connected with the Gupta’s should be shaking, Sahara Computers and what else of companies they deliberately made to gain fortunes and spin their stories. It should be hurt and within time, they will ask for rescue too. As the funds and contracts with the state stops.
We can just wonder how many more Estina deals there been in the different states of South Africa. As long as the creditors, the banks and the HAWKS continue to pursuit the lost cash. Now that the Zuma cannot stop their investigations, hopefully more whistle-blowers and more covers will be showed in public. So that the State can get their funds back and also prosecute the ones who has stolen money from the public.
All of this will hit hard towards the finances of South Africa, the service delivery of the state owned corporations, as they was dealing with them directly to secure coal or other services. We can just wonder, how the effect will be in the long run. How the ANC will manage and who has to go because of it. Who will be implicated and who has to answer for the shady deals done in secret so the Indian businessmen could earn fortunes on rigged arrangements. Peace.
Now that President Jacob Zuma resigned on the 14th February 2018, there is questions to what it will lead too. On the 16th February the African National Congress (ANC) and the Members of Parliament sworn-in Cyril Ramaphosa as their new President. Who after long days of drama all week was waiting for Zuma to step down. So Ramaphosa could become his successor. He did so and resigned so that he couldn’t be impeached by the Parliament on the 15th February, as Economic Freedom Fighter (EFF) Julius Malema, who wanted that vote and the Parliament Speaker blocked Democratic Alliance (DA) Mmusi Maimane, who wanted to dissolve the Parliament because of this. So, the opposition didn’t get their will from the ANC. But the years of fighting Zuma is now done, though it is starting to shift. Still, the opposition should want the judiciary and authorities to investigate Zuma and his associates futher. Not for retribution, but to make sure justice is served.
This week is evidence of how fickle the power is and sudden the reach of power goes away. The Executive Branch that Zuma hold from 2009 until 14th February 2018, one year before his term finished. Proves the volatile state of grandest power. That is also because Zuma and his comrades misused their time, instead of serving the people. They we’re more preoccupied with shady dealings and using state tenders to get kickbacks and graft. The reporting and the revelations has unraveled all sort of scandals that has tormented the presidency. Even if the President had powers to stop investigations and arrests. He still couldn’t stop the embarrassment of his shady dealings and his occupation with securing good deals for friends of his.
This has been evident with the power of the Gupta investor family who has started dozens of businesses, in all sort of markets that are based on government tenders, state owned enterprises and licenses. This being media, energy, minerals, banking and so on. All from Sahara Computers, Oakbay Investments, Oakbay Resources, ANN7 and New Age Newspaper. This is just the well known ones, not the other whose made with other investment portfolios, who surely has made some questionable tradings in the Republic. Since the Gupta based company has used Transnet, Ministry of Agriculture and Eskom for instance to get grand deals, but not delivering due diligence to the SOE’s.
So the Gupta are now in trouble as the Executive Privilege of Zuma is fallen. His basis of power is gone, as Ramaphosa came there and he hasn’t needed the support or supporting Zuma to be a big shot in ANC. That is why the ones who stood close and was appointed by Zuma himself or by help of Gupta’s can now wait their judgment.
The ones that can miss their places in the world are the likes of Bogani Bongo, Mosebenzi Zwane, Lynne Brown, Bathbile Dlamini, Malusi Gigaba, David Mahlobo, Fikile Mbalula, Nomvula Mokonyane, Nathi Mthethwa and Des Van Rooyen. All of these ministers and such can expect to be fired or should resign.
We should expect many of the appointed leaders in both the judiciary and in the ombudsman or public protector to be re-assigned somewhere else, as their independence has been within the reach of the President. They didn’t start using their power until Zuma had lost his power. The SAPS, Hawks and Scorpions should have come quicker against the Gupta and Zuma associates. Also, the SARS should follow the methods into the abuses done, so there are so many loose ties with shady deals, that needs to implicate more people, than most likely Ramaphosa want to see in bracelets. Since the ANC let the corruption happen over the years, not only because of Zuma, but because they wanted to eat.
We know that the power is fickle as Duduzane Zuma and Ajay Gupta are running from the law and there is 1 million rand on their head from the Police. This shows how quickly they went from rich heroes into fugitives. Two weeks ago, even if the public was tired of the stealing form the state, they we’re still Teflon. Now they are Bugsy Malone on the streets.
The South African electorate should hope that the investigations and that the people who has stolen from the state reserves are taken into custody and the pays for their crimes. All these corrupt activity and the hackwork done to make sure the Zuma family could get wealthy and the associates who wanted the same. Zuma should also worry that he could be indicted now and actually pay for crimes. He has enough counts and alleged crimes on him. So he could if charged and could serve time for it. Now that his presidency is over. Unless, he flees with stolen gains to his mansion in Dubai.
The Gupta family knows their in trouble, the Hawks raid and the price on the head of the family members can all meet all the different arms of justice. That the businesses and the tenders are annulled and the forged profitable businesses possibly fail. As other businessmen and other investors who actually not planning to eat government funds, but actually service delivery. Zuma knew he used them, because he would benefit from the agreements. That is why he changed financial minister to fit the deals between Zuma and his associates in Gupta businesses.
Let’s us see how far they can fall, how much punishment the state will give them, as they can now be served by the authorities. Even Zuma can now be touched. That is proven with his fleeing family member Duduzane. Now, let see if they will all fall from the cliff or will be left with scratches. We can hope that Ramaphosa and the judiciary are able together with the investigators to build cases that can actually verify the State of Capture and Denton’s Report. So that the state can follow the shady deals of Gupta’s, I am sure there are more than what has been reported by whistleblowers. The state should do what it can and scrutinize every single tender given to businesses connected to the Gupta family. Peace.
It is just a matter of time now! Before we see the end of the Presidency of Jacob Zuma, the man who brought down Thabo Mbeki. He himself, who was fired by Mbeki, used that and his alliances with the Unions to force Mbeki from the Presidency. Those we’re the days, it seems like decades ago, but it isn’t longer back than 2008. Later in 2009 when the first term of Zuma begun after the elections. So now, the African National Congress (ANC) are turning on him, the way it turned on Mbeki.
It is not as if Zuma has been in sheltered universe and the rest have been oblivious, however, the recent acts has occurred as the power has shifted from him to Cyril Ramaphosa. That is natural, as the same happen when the former Deputy Zuma came into power as well. He should have known this, since them at one point called Mbeki a “lame duck”. That is not an admiration, but a denying of the powers that Mbeki used to have. The same sort of thing, the interview and public display shown by Zuma.
Zuma is stuck and righteously so, if the Parliament is dissolved after the motion filled by Democratic Alliance (DA) or the No Confidence vote by Economic Freedom Fighters (EFF). That is the world to know; also, the ANC has tabled a No Confidence vote, so tomorrow, we might see a push and the gates closing for Zuma. He has enough blood and enough wounds created over the years of looting and corrupt behaviour. His business and perceptive use of family to interfere in State Owned Enterprises is really hurting the economy. Therefore, it is not as if his legacy is smashing. The Gupta’s and Zuma’s are so connected that it is not even a con, but an open-air bazaar of festive eating of the government plate.
There been revelations by Whistle-blower’s all over the map and in any sort of institutions from Eskom to Ministry of Agriculture, that the state has misused funds and secure profits for Gupta based companies. While Zuma’s family and close associates has eaten of the plate and dined on the bill of the same companies. It has been a favourable trade and the Zuma has gotten a lavish house in Dubai and in Nkandla. They have rigged bank accounts and used public tenders to whatever to gain kickbacks; even changed Financial Minister is to suit the Gupta’s. Everything has been for sale; therefore, the legacy of the President is just corruption and more corruption.
However, the ANC and the ruling regime let him stifle the courts, stop the reports of corruption, they tried to keep secret and silence the audits. They did whatever they could to stop it and reveal the ill-gotten gains. Even if the State Capture happen, the Police and the Investigation units was stopped, the Courts wasn’t respected either, neither following the Constitution to prosecute or indict. What Zuma should expect and the Gupta’s, are the bracelets! They should expect to spend time and pay fines. Maybe even foreclosure and declare bankruptcies. Because of the lack of back pay. This sort of thieving should hurt and especially this level of crimes done in broad daylight over years.
So now, it is his turn to feel the punishment and the whole is the stage. The tide has turned and now it is against him. The evidence and the cases is built up against him. If he will turn other people in and fellow loyal ministers, members of parliament and business associates, it is hard to know. Nevertheless, he did not do the crime in a vacuum. He did it on his accord and within his resource. However, ANC was in on it and accepted it for so many years. They defended it too, until the end.
Therefore, we will see how this goes, but Zuma will cry and shout. He will not go softly, since he loses power and lose favours. He was not prepared to step down and lose the Executive Branch, which now is fading away. Peace.